What is the legal term for property ownership held by one individual?

The legal term for property ownership held by one individual is referred to as severalty. This concept signifies that an individual owns the property outright, without any shared interests or claims from other parties. Ownership in severalty grants the owner complete control over the property, allowing them to make decisions regarding its use, management, sale, or transfer without needing approval from co-owners or partners.

This is distinct from other ownership forms, like tenancy by the entirety, which applies to married couples owning property together, or tenancy in common, which allows multiple individuals to own disparate shares in the same property while retaining the right to sell or transfer their shares independently. Syndication refers to a group of investors pooling resources to invest in property, rather than individual ownership, which further differentiates it from severalty. Understanding these distinctions is crucial for grasping the various ways property can be owned and managed in real estate.